CNN Market Place Middle East

SHOW #38

FACETIME – Malcolm Wicks

With Saudi Arabia calling a meeting between oil consumers and oil producers to discuss prices and production, MME sits down with UK Energy Minister Malcolm Wicks. Wicks believes that current energy prices are ‘intolerable’ and will meet with the Saudi oil minister this weekend about the problem. We talk to Wicks about current oil prices, their impact on the global economy, and what he hopes to discuss with Saudi oil minister Al-Naimi.

IN FOCUS – Construction Crunch

As oil prices rise and revenues increase, the region is witnessing a building boom. From skyscrapers to shopping malls, contractors in the region can pick and choose when it comes to projects to undertake. But with the boom comes inflation. The cost of materials like cement and steel are on the rise. Will the higher prices effect the boom? MME investigates the construction crunch echoing throughout the Gulf.